Los Angeles Capital Management LLC Sells 38,746 Shares of Carvana Co. (NYSE:CVNA)

Los Angeles Capital Management LLC cut its holdings in Carvana Co. (NYSE:CVNA) by 80.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,215 shares of the company’s stock after selling 38,746 shares during the period. Los Angeles Capital Management LLC’s holdings in Carvana were worth $1,604,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Forum Financial Management LP increased its stake in Carvana by 3.8% during the third quarter. Forum Financial Management LP now owns 2,071 shares of the company’s stock worth $361,000 after acquiring an additional 76 shares during the last quarter. Empirical Asset Management LLC increased its position in shares of Carvana by 2.0% during the 3rd quarter. Empirical Asset Management LLC now owns 5,109 shares of the company’s stock valued at $890,000 after purchasing an additional 100 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in Carvana by 6.0% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,308 shares of the company’s stock valued at $402,000 after buying an additional 130 shares during the period. CWM LLC lifted its position in Carvana by 19.5% in the second quarter. CWM LLC now owns 883 shares of the company’s stock worth $114,000 after buying an additional 144 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Carvana by 32.8% during the third quarter. GAMMA Investing LLC now owns 608 shares of the company’s stock worth $106,000 after buying an additional 150 shares during the period. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Carvana news, major shareholder Ernest C. Garcia II sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $155.51, for a total value of $15,551,000.00. Following the completion of the sale, the insider now directly owns 290,814 shares in the company, valued at $45,224,485.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Daniel J. Gill sold 30,000 shares of Carvana stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $175.00, for a total value of $5,250,000.00. Following the completion of the sale, the insider now directly owns 328,329 shares in the company, valued at $57,457,575. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ernest C. Garcia II sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $155.51, for a total transaction of $15,551,000.00. Following the transaction, the insider now owns 290,814 shares in the company, valued at $45,224,485.14. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,627,249 shares of company stock worth $468,516,322 in the last 90 days. 17.12% of the stock is owned by corporate insiders.

Carvana Stock Down 2.6 %

Shares of NYSE CVNA opened at $240.31 on Thursday. The stock has a market capitalization of $49.90 billion, a PE ratio of 24,031.00 and a beta of 3.37. The company has a current ratio of 3.25, a quick ratio of 2.12 and a debt-to-equity ratio of 18.99. Carvana Co. has a 12-month low of $29.84 and a 12-month high of $259.39. The stock’s fifty day simple moving average is $188.57 and its two-hundred day simple moving average is $147.52.

Carvana (NYSE:CVNA) last posted its earnings results on Wednesday, October 30th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.41. The company had revenue of $3.66 billion during the quarter, compared to analysts’ expectations of $3.47 billion. Carvana’s revenue for the quarter was up 31.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. As a group, analysts expect that Carvana Co. will post 0.62 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CVNA shares. Wells Fargo & Company raised their target price on shares of Carvana from $175.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Citigroup raised their price objective on shares of Carvana from $125.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Wedbush upped their target price on Carvana from $150.00 to $175.00 and gave the company a “neutral” rating in a research note on Monday, October 7th. Morgan Stanley raised Carvana from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $110.00 to $260.00 in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group upped their price objective on Carvana from $150.00 to $185.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Carvana currently has a consensus rating of “Hold” and a consensus target price of $217.71.

About Carvana

Carvana Co, together with its subsidiaries, operates an e-commerce platform for buying and selling used cars in the United States. Its platform allows customers to research and identify a vehicle; inspect it using company's 360-degree vehicle imaging technology; obtain financing and warranty coverage; purchase the vehicle; and schedule delivery or pick-up from their desktop or mobile devices.